first time buyer Mortgage guides
Looking for your first time buyer mortgage ? When you decide to buy your first home it should be an exciting time. But, sometimes there’s so much to think about that it can be quite daunting. For example: there’s thinking about what area you want to live in, knowing what type of property to look for, and even having to find a solicitor.
On top of all that, there’s sifting through hundreds of first-time buyer mortgages, which can be quite scary. Particularly if you’re not sure about what to do and in what order to do it. Just as well we have an array of first time buyer guides to help.
Wondering how long it takes to buy or sell a house through an estate agent? Not sure what questions to ask when viewing a property? This guide explains what estate agents do, what fees they might charge and looks at other ways to buy and sell property, including online.
It’s a good idea to take your time when finding a solicitor or conveyancer. Solicitors or conveyancers look after the legal aspects of buying or selling a property.
Normally, the first question you’re asked after making an offer on a property is the name of your solicitor or licenced conveyancer.
*first time buyer*
First Time Buyers are classified by most mortgage lenders as those who have either:
- Never owned a property or
- People who have owned a property in the past, but not owned one for six months or more.
For each lender, the rules and ideas about this differ. There usually are no issues in being a First Time Buyer. To qualify for stamp duty relief, First Time Buyers must have never been property owners in any location in the world previously.
The mortgaging process might appear to be challenging, but this isn’t necessarily so. Buying your first home can be exciting, so if you come across a suitable broker who can handle the process for you at a fair price, do take advantage of their expertise. The purpose of using one is straightforward enough. After all, if you don’t know a thing about cars and yours breaks down, you would rather call a mechanic than fix it yourself. The same applies to mortgages. With mortgage brokers, you can cut down on money, effort and time, so you should use one. You won’t have to pay for the initial consultation.